Hyatt Hotels

Hyatt Hotels Corporation today announced that a Hyatt affiliate has entered into a management agreement with wasl Asset Management Group, one of the largest real estate development and management companies in Dubai, for the development of an Andaz-branded hotel at La Mer—a vibrant lifestyle district in the coastal area of Jumeirah....

South Korean builder Ssangyong E&C has won a USD 62 million contract from UAE-based wasl Asset Management Group to build five-star, 156-room Andaz boutique hotel at La Mer beachfront development in Dubai, reported Trade Arabia. The property is a Hyatt brand, and will be designed by VX Studio.

Wasl, a public entity that develops and manages government property assets, currently owns 14 hotel properties in Dubai, including Dusit Thani, Park Hyatt and Le Meridien.